Plateau Energy Metals Inc. announce the results from an independent Preliminary Economic Assessment (“PEA”) for the Falchani Lithium Project (“Falchani Project” or “Project”) located on the Macusani Plateau in the Puno District of southeastern Peru. The PEA, prepared in accordance with National Instrument 43-101 (“NI 43-101”) by DRA Global (“DRA”), demonstrates the Falchani Project’s ability to become a large, long life producer of low cost, high quality-low impurity battery grade Li2CO3. Unless otherwise stated, all dollar figures are in United States dollars (“$”) and the economic highlights represent Plateau’s 100% interest in the Falchani Project. The Base Case considered the entire Mineral Resource estimate for the Falchani and Ocacasa 4 concessions, as described in the 2019 Technical Report. As there have been changes to the mineral tenure circumstances, particularly with respect to the dispute over the ownership of the Ocacasa 4 concession, the split between Falchani and Ocacasa 4 is provided in Table 2 on page 4 for additional clarity. The Alternative Case considered a sub-set of the Mineral Resource estimate described in the 2019 Technical Report, that being the Mineral Resources contained within the Falchani concession only. The Falchani Project is within the Falchani and Ocacasa 4 concessions held by Macusani Yellowcake S.A.C (“Macusani”), a 100% controlled subsidiary of Plateau. The Falchani Project is situated on the Macusani Plateau, located in the Carabaya Province, Puno District of south-eastern Peru in the Andes Mountains, which has been actively explored for uranium since the 1980’s, and more recently for lithium. Located approximately 650 km east southeast of Lima and about 220 km by the Interoceanica Highway from Juliaca in the south, two roads connect the Falchani Project to the Interoceanica Highway and are accessible year-round. The town of Macusani is 25 km to the southeast of the Company’s Project area. The PEA has considered only the lithium-rich bearing tuffs (“LRT”), namely LRT1, LRT2, and LRT3, three of five geological units presented in the Falchani Project technical report, effective March 1, 2019, prepared in accordance with NI 43-101 by Mr. Stewart Nupen (“QP”) of The Mineral Corporation and filed on SEDAR (the “2019 Technical Report”). As a result, the Base Case and Alternative Case utilize less than 48% and 47%, respectively, of the total mineral resource estimates included in the 2019 Technical Report.